Markets turn cautious

The markets are trading marginally weak, with the Sensex quoting at 17,084, lower by 17 points, and the Nifty down 13 points at 5095. Metals, energy and pharma pack are weighing down on the indices.

The bourses had opened on a positive note, mirroring the green seen across Asia and the US. But they have given up their early gains and have now turned cautious.

The top Sensex losers are Hindalco (weaker by Rs 5 or 3.9% at Rs 141, Sterlite (lower by Rs 25 or 2.9% at Rs 862), Tata Steel (shed Rs 13 or 2.4% at Rs 561) and Reliance (weaker by Rs 15 or 1.3% at Rs 1,074. Jaiprakash Associates, NTPC and DLF have lost up to 1% each.

Bharti Airtel has continued its previous week's strength and is trading at Rs 319, higher by Rs 9 or 3.2%. Reliance Communication has added Rs 4 or 2.4% at Rs 183 and Infosys has strengthened by Rs 26 or 1.1% at Rs 2,409.

The market breadth is strong. Out of 2,598 stocks traded on the BSE, there are 1,477 advancing stocks as against 1,052 declines.